Los Angeles Capital Management LLC Sells 13,768 Shares of Performance Food Group (NYSE:PFGC)

Posted by Defense World Staff on May 3rd, 2023

Los Angeles Capital Management LLC trimmed its position in Performance Food Group (NYSE:PFGC – Get Rating) by 39.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,509 shares of the food distribution company’s stock after selling 13,768 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Performance Food Group were worth $1,256,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC acquired a new stake in Performance Food Group in the third quarter valued at approximately $28,000. Quadrant Capital Group LLC boosted its position in Performance Food Group by 43.1% in the third quarter. Quadrant Capital Group LLC now owns 834 shares of the food distribution company’s stock valued at $36,000 after buying an additional 251 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Performance Food Group in the fourth quarter valued at approximately $38,000. Harvest Fund Management Co. Ltd acquired a new stake in Performance Food Group in the fourth quarter valued at approximately $39,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in Performance Food Group in the third quarter valued at approximately $53,000. 97.35% of the stock is owned by institutional investors.

Performance Food Group Price Performance

PFGC stock opened at $61.74 on Wednesday. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 35.90 and a beta of 1.36. The company has a quick ratio of 0.73, a current ratio of 1.71 and a debt-to-equity ratio of 1.16. Performance Food Group has a 12-month low of $38.23 and a 12-month high of $63.22. The company’s fifty day simple moving average is $58.66 and its 200 day simple moving average is $57.90.

Performance Food Group (NYSE:PFGC – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The food distribution company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. Performance Food Group had a net margin of 0.47% and a return on equity of 16.15%. The firm had revenue of $13.90 billion during the quarter, compared to the consensus estimate of $13.89 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Performance Food Group will post 3.78 earnings per share for the current year.

Analysts Set New Price Targets

PFGC has been the topic of a number of recent research reports. TheStreet upgraded shares of Performance Food Group from a “c+” rating to a “b” rating in a report on Monday, March 20th. UBS Group lifted their price target on shares of Performance Food Group from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Morgan Stanley lifted their price target on shares of Performance Food Group from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Truist Financial lifted their price target on shares of Performance Food Group from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 12th. Finally, StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Saturday, March 25th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 500 shares of Performance Food Group stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $56.31, for a total value of $28,155.00. Following the completion of the sale, the insider now directly owns 153,790 shares of the company’s stock, valued at $8,659,914.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Performance Food Group news, insider Patrick T. Hagerty sold 500 shares of Performance Food Group stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $56.31, for a total value of $28,155.00. Following the completion of the sale, the insider now directly owns 153,790 shares of the company’s stock, valued at $8,659,914.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald S. Bulmer sold 970 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $59.81, for a total transaction of $58,015.70. Following the sale, the insider now directly owns 33,196 shares of the company’s stock, valued at $1,985,452.76. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Performance Food Group Profile

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Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice, Vistar, & Convenience. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.